The Finance Department (FD) work closely with the management act as professional advice and control service for the financial activities of the Company.

Departmental Meetings are held regularly, in which work related matters are discussed. Additionally the detail work in progress of each section in monitored through meetings between the Senior Staff and the Juniors for which they are responsible.

The FD help the other departments to meet their service objectives by acquiring services and goods, allocating the company’s financial resources, processing financial transactions, and providing information and analysis as a basis for decision making.

The Finance Department is committed to providing the highest levels of financial services to the Company.

This includes insuring that proper controls and procedures are in place to manage properly.

We constantly evaluate and balance the types and levels of services provided

Efficiencies are developed through staff training opportunities, teamwork and by providing employees with a challenging and fulfilling work environment.

The broad objectives of the Finance Department are to provide a timely, efficient and cost effective service :

Continuing to improve the level of operational efficiency of the Finance Department.

Maintaining effective working relationships with the rest of the Company.

Continuing to improve the quality of financial information supplied to departments.

Meeting the Reporting deadlines set by GAC Ensuring wide compliance with the Financial

Regulations.

• There are 10 members of staff in the department (including CFO) working as a Team with the following Key Areas of responsibility.

Chief Financial Officer

Asst. CostAccountant

Sr.Accountant

Cashier ICashier II

Financial Accountant

Credit Control & Recovery

Officer

Bank & Out-door Clerk

Asst. CreditOfficer

Assistant Accounts Officer

Trainee Assistant Accountant

Treasury Services Charges Cash Collection, Control of Borrowing

Requirements; Collection of Services Charges and Other Debts to Clients Payments

Creditors Payments, Supplier, Management of Creditors Ledgers.

TREASURY Control Responsible for all Treasury operations. General

responsibilities include Investments, Utility Billings, Collections, Debt Correspondence.

Control disbursement and reconciliation of all checks or withdrawals from treasury accounts. Provide Banking Services such as Checks, Endorsement stamps, Deposit tickets and placing stop payments.Cash Control

Collect, Record and Deposit funds for all Treasury transactions and ensure that the Deposits are made timely and accurately.

Account Receivable Maintains Accurate Account and Billing Records for

Other Accounts Receivable. Purchasing Services

Maintain and ensure compliance with purchasing policies and procedures.

Handle purchasing inquiries from Departments. Process purchasing requisition, Vendor Records and

Contract Documents. Assist staff in reducing cost of doing business by using more efficient procurement methods.

Bills Received from

SuppliersReceived Date & Finance Stamp

Bills Entered into Dolphin System

Dispatch to their Respective

Departments

H.O.D. Verify their respective

bills & Return to Finance Dept

After HOD verification GM approved bills

Financial approval by CFO, bills

update in Dolphin System

Account Payable Voucher dispatch for

Payment Process

Bank Payment Voucher Prepared & Entered in Dolphin

& Tax System

Cheques Print, CFO & GM approved all

payments

Cheques send to Directors for Signing

After Directors’ Signing Cheques

Dispatch to Vendors

Journal Update in Dolphin System

Flow Chart of Payable Bills & Payment Processing

Financial Accounting/Control Monthly Management Reports, Budget Settings and

Monitoring, Financial Planning, Capital Project Reporting.

Pay Roll Payroll Production, Income Tax Returns. Monitoring of Changes in Human Resources (Hires

and Terminations). Filing all reporting requirements with various

Government agencies; like SESSI, EOBI, Excise and Taxation, and provide assistance with Pay Change Calculations.

Systems Development Maintenance and development of financial systems

and procedures; Management of Payments section.

Insurance Monitoring of Existing Policies and Insurance Claims